GoodReturns
Archive - 2010
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February 2010
02 Feb 2010 First Step investors will likely get more repayments this year
02 Feb 2010 Butler leaves
02 Feb 2010 Wellington house market holds up
01 Feb 2010 Auckland Anniversay Day
01 Feb 2010 Ross Butler resigns from Mortgage Link to protect integrity
01 Feb 2010 News round-up
January 2010
31 Jan 2010 Rates Round Up
31 Jan 2010 Finance Direct takes big steps in deposit rate competition
29 Jan 2010 Economists divided on when OCR will rise
29 Jan 2010 Bank liquidity requirements could keep rate hikes to a minimum
29 Jan 2010 Morningstar looking for new CEO
29 Jan 2010 Building consents stall in December amid falling home sales
29 Jan 2010 Property investment rules to change - forever
29 Jan 2010 Commission to clarify definition of financial planning service
29 Jan 2010 Double Bolly
28 Jan 2010 Geneva Finance to lose its wholesale funding
28 Jan 2010 Current vs five-year average
28 Jan 2010 UPDATE: Bollard holds OCR; expects to hike about mid-year
28 Jan 2010 OCR Update Jan2010
28 Jan 2010 OCR holds, mid-year rate hike still likely
28 Jan 2010 FULL RBNZ SPEECH: OCR unchanged at 2.5%
28 Jan 2010 NZ's two favourites: Rental property and the All Blacks
28 Jan 2010 Young ones think KiwiSaver enough for retirement
27 Jan 2010 OCR holder
27 Jan 2010 Marchmont keeps mum on identity; Stalls on Strategic queries
27 Jan 2010 OCR review to be requisitely boring
27 Jan 2010 Housing market stalling?
27 Jan 2010 Former ASB adviser to plead guilty to $18m fraud
27 Jan 2010 First NZ Capital chief joins Auckland University council
27 Jan 2010 Silver Fern moves
26 Jan 2010 SFO finance company investigations – too late?
26 Jan 2010 Good buy: Auckland leasehold apartments
26 Jan 2010 Restrictions removed from ANZ Simple Variable rate
26 Jan 2010 NZ Funds mildly optimistic about this year
25 Jan 2010 Budget for floating rates to rise 3%
25 Jan 2010 New independent director for SHARE
25 Jan 2010 [Weeky Wrap] Back to school for advisers
25 Jan 2010 News round up
24 Jan 2010 OCR preview
24 Jan 2010 Marac unveils non-guaranteed deposit rates
24 Jan 2010 Banks tussle in 6 month deposit space; Allied Farmers looks long
24 Jan 2010 Economists expect RBNZ to leave OCR unchanged
22 Jan 2010 Mercer's top 10 investment trends for 2010
22 Jan 2010 Westpac ups 6 and 18month rates
22 Jan 2010 Share funds have a bumper 2009
22 Jan 2010 ASB's view on the OCR
21 Jan 2010 New MD for Tyndall
21 Jan 2010 OCR Forecast
21 Jan 2010 Southern Cross gets approval for critical illness
21 Jan 2010 CPI good news
21 Jan 2010 Huljich to relaunch non-KiwiSaver funds
20 Jan 2010 Top broker morphs firm
20 Jan 2010 Would the Nats really whack property investors?
20 Jan 2010 PGG Wrightson optimistic about fortunes in 2010
20 Jan 2010 Investors face double-whammy in tax proposals
20 Jan 2010 Misleading talk will lead to bad tax decisions
20 Jan 2010 Expert Views
19 Jan 2010 CPD rules get industry thumbs-up
19 Jan 2010 CPI to decide cash rate
19 Jan 2010 Milford grabs Westpac's head of wealth operations
19 Jan 2010 IRD's views on depreciation challenged
18 Jan 2010 Mascot failure likely to cost taxpayers $33 million
18 Jan 2010 House prices up but sales levels concerning
18 Jan 2010 REINZ residential highlights - December 2009
18 Jan 2010 ASB first to hike
18 Jan 2010 News round-up
17 Jan 2010 Wallwork switches camps
17 Jan 2010 Rates Round Up
16 Jan 2010 Strategi Institute established
16 Jan 2010 Deposit rate war kicks off 2010 in longer-dated space
15 Jan 2010 KiwiSaver OK for UK transfers
15 Jan 2010 Sovereign gets big tick from AM Best
15 Jan 2010 Housing Corp third to move
15 Jan 2010 Caution restrains bargain hunting
14 Jan 2010 Health Funds calls for Nats to revisit rebate for over-65s
14 Jan 2010 Home-building and hospitals push up November building consents
14 Jan 2010 Investing made easy: Taking heed of the past
14 Jan 2010 No changes
14 Jan 2010 Fund managers move to broker firm
13 Jan 2010 Fidelity pays investors after 18-month wait
13 Jan 2010 FundSource gets new head
13 Jan 2010 Matthew Wood opens executive search firm
13 Jan 2010 CU North second to move
13 Jan 2010 Opinion: Spare a thought...
12 Jan 2010 Rates Round Up
12 Jan 2010 Self-evaluation tool for advisers launched
12 Jan 2010 IRD quietly raises changes to depreciation
11 Jan 2010 S&P take a wait and see approach to South Canterbury
11 Jan 2010 Strategic’s Finnigan winds back hours to help cut costs
11 Jan 2010 House values gain in 09
07 Jan 2010 AMP fund hiccup finally cured
07 Jan 2010 Auckland house prices stabilising at boom-time levels
07 Jan 2010 Fin Coy offers new, higher rates
07 Jan 2010 Receivers update investors on failed fin coys over holiday period
06 Jan 2010 Bridgecorp receivers all but give up on Momi
06 Jan 2010 Strategic's future in the balance
06 Jan 2010 Bridgecorp receivers all but give up on Momi
05 Jan 2010 Strategic Finance bank debt knocks down first repayment to investors
05 Jan 2010 SBS holds its home loan market share
05 Jan 2010 Market Review: January 2010 London Commentary
Latest News
Advice adds at least 5% a year, but clients can’t see most of it
Advice adds at least 5% a year, but clients can’t see most of it
4 min read
Adviser use of ETFs likely to continue to grow, Smart says
Adviser use of ETFs likely to continue to grow, Smart says
2 min read
FMA outlines its latest expectations for advisers
FMA outlines its latest expectations for advisers
6 min read
[Weekly Wrap] KiwiSaver in play; but outcome unclear
[Weekly Wrap] KiwiSaver in play; but outcome unclear
2 min read
Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
8 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
10 hours ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
2 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
Sticking an oar in, while we have “service” requirements the expectation that an adviser is responsible for discussing said change is relying heavily on assumption. 1. That the client hasn't moved and contact details haven't been updated. It happens more often than many think. 2. It assumes there is a servicing agreement in place to provide service. Remember the requirement is to scope service not provide it. A client deciding to have ad-hoc service on their request is a legally valid position to have. 3. If there is a service agreement that's realistic to what is expected, how long does the adviser push the issue to have the discussion before moving on with everything else they have to do? Again, a point that is not clear in the guidance to date. The challenge of the present rules is the adviser is responsible for ensuring the client understands the advice provided. How do you ensure you're covering this if a client doesn't engage despite genuine attempts to manage it? There's still a lot of “what if’s” in this whole are we’re only going to have clarity on once someone is taken to task about it. But first we need to have clarity on what ongoing service actually is, because right now demonstrated by the direct providers a letter once per year with a please call if you want to discuss is the current minimum…
2 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
2 days ago Paul Flood